Share rise for Blavod Black Vodka

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Shares in Blavod Black Vodka edged up after the company arrived on the stock market to raise cash for expansion.The price rose from 98p to 104p...

Shares in Blavod Black Vodka edged up after the company arrived on the stock market to raise cash for expansion.

The price rose from 98p to 104p within hours of the start of its first day of dealing last week on the Stock Exchange's Alternative Investment Market.

The company achieved its goal of raising £4m for boosting promotion and marketing of the unique black vodka in its core UK and USA markets.

Chief executive Richard Ambler said: "Three years of growing sales without sustained marketing expenditure have demonstrated that the Blavod brand has longevity beyond the initial interest that the colour black arouses.

"We believe we can achieve our objective of creating a global premium vodka brand selling 200,000 cases a year worldwide."

Blavod has grown since it was launched in March 1998, gaining on-trade accounts with JD Wetherspoon and Whitbread's Hogshead pubs.

It was created by marketing consultant Mark Dorman five years ago, using the tasteless catechu herb to turn the vodka black. While Dorman continues in a marketing role, Ambler was recruited in November last year after working for IDV and Diageo.

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